Sir Peter Davis, group chief executive, said yesterday, “Today we announce another £100 million of price cuts which will bring the total invested since January to £250 million with cuts on over 5,000 lines.
“Since I rejoined
“During the year we have maintained a competitive pricing position with significant investment in price cuts and extra promotions to give our customers even better all-round value.
“It was always our intention to re-emphasise the competitive part of our value strategy this Autumn. A central feature is a TV campaign, which we will launch on Wednesday featuring Jamie Oliver highlighting the strength of our promotions and special offers.
“In July I said that the unusually high level of consumer spending in the industry was not likely to be sustained. We had planned and budgeted for a value campaign in the important lead up to Christmas. Although our sales this Summer have been encouraging, driven by the strength of our quality and service, it seems even more appropriate and relevant to re-emphasise the price and promotional part of our offer at this time.”
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